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Thursday, October 10, 2013

Hawk No More

According to a brief article on the online version of the Hungarian weekly hvg, Sólyom Airways, a venture designed to privatize the flight rights of the now-defunct Malév Hungarian Airlines via "Middle Eastern" investment, stopped paying its bills, including the second month's salaries of its employees. The reason: investor disinterest.

The venture was shrouded in secrecy, and the numerous, confident announcements on part of its management about its projected, spectacular growth were met with widespread skepticism. Its CEOs included a former official in the air traffic regulation branch of the government and several businessmen who were facing a series of charges for various economic crimes. The "airline" had some basic operating license for small craft traffic, and never managed to obtain the necessary permits for passenger flights from the Hungarian authorities. Management accuse the authorities of dragging their feet.

According to the daily Népszabadság, management knew that the planned investment deal fell through as early as August, 2013, (i.e., at the time when they hired the employees whom they are unable to pay now--that is, a month later).

1 comment:

  1. Sólyom Airlines has been sold to a new investor whose job it will be to "bury" the company. Trouble is, there is an international arrest warrant against him, for alleged economic crimes in Panama.

    ReplyDelete

cover page of the book

cover page of the book
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